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CU System

Mich. foundation supported CUs with 95K in 11

LIVONIA, Mich. (1/6/12)--The Michigan Credit Union Foundation raised more than $95,000 in support of credit unions in 2011.

In 2011, more than half of MCUF's support activity was in the form of scholarships that benefitted 191 credit union employees from 71 credit unions. The scholarships were awarded for both educational support to small-asset-sized credit unions and for CUNA Management School scholarships. The MCUF also provided operational and Community Reinvestment Initiative (CRI) grants that assisted 34 credit unions.

The foundation will present certificates to 74 credit unions and chapters that provided support through an annual donation or from part of their income from investments in the Community Investment Fund. Award plaques will be presented in appreciation to 10 credit unions that made a donation at the gold level of $1,000 or more, according to the Michigan Credit Union League (Michigan Monitor Jan. 3).

With the donations, the MCUF can provide grants and scholarships to Michigan credit unions and their employees for community outreach and employee educational development.

In 2012, the MCUF is looking to increase the grant funding provided to credit unions and chapters for CRI activities targeted to financial education initiatives. Suggested activities for CRI grants include the Biz Kid$ public television program, financial education enhancements such as community and school events, Money Smart Week activities and financial counseling community outreach activities, said MCUF.